Oil prices reached a new record above $132 a barrel May 21, 2008, and as
a result regular gas rose to a new national average record above $3.80
per gallon, according to a survey of stations by AAA and the Oil Price
Information Service.
Prices are 60 cents higher than a year ago, and many
forecasters believe they will hit $4 on a national basis at some point
over the next month. Prices are already that high in many parts of the
country, and the number of stations charging $4 or more rises each day.
Prices are nearing $5 a gallon in parts of Alaska. Diesel fuel also hit a
record of $4.558 a gallon on May 21.
